Annual report 2008 - No. 1 in Modern Energy with wind power at the top of the energy agenda

Vestas continued its growth in 2008 with the biggest fourth quarter ever - a
revenue of EUR 2,481m with an EBIT margin of 15.4 per cent compared to a
revenue of EUR 1,884m and an EBIT margin of 12.3 per cent in fourth quarter
2007. Total revenue in 2008 rose to EUR 6,035m from EUR 4,861m in 2007. At the
same time, EBIT margin increased to 11.1 per cent from 9.1 per cent the year
before From the end of 2007 to the end of 2008, net working capital rose by EUR
367m to EUR 299m equivalent to 5 per cent of revenue. The increase is due to
increased stocks and receivables. The latter is due to the large shipments at
the end of the year. Cash flow from operations amounted to EUR 277m against EUR
701 in 2007. The growth in Vestas' underlying profitability is expected to
continue in 2009, however, at a lower rate than realised during the last three

Press and analyst meeting in New York 
In connection with the publication of the annual report, an information meeting
will be held today Wednesday at 9 a.m. (EST - New York time)/3 p.m. (CET) for
analysts, investors and the press at: 

Four Seasons Hotel 
"Cosmopolitan Suite"
57 East 57th Street
New York 10022

Visit Vestas at and read the latest Vestas magazines,
see Vestas' webcast, etc. 

Any questions may be addressed to Ditlev Engel, President and CEO of Vestas
Wind Systems A/S, or to Peter Wenzel Kruse, Senior Vice President of Group
Communications at Vestas Wind Systems A/S, both on telephone +45 9730 0000.